The North American Medical Simulation Market To Reach USD 969.8 Million By 2020

Published On: January 12, 2016

The research report titled “North American Medical Simulation Market Outlook: 2013-2020” analyzes the major drivers, restraints, opportunities, and challenges that have a long and short-term impact on its growth across the globe. This latest publication from Meticulous Research® states that the North American medical simulation market would reach $969.8 million by the year 2020 at a CAGR of 15.0% over the period of 2015 to 2020.

With the full potential of healthcare/ medical simulation has yet to unfold in the U.S. and Canada, the growth of the North American medical simulation market will be primarily driven by medical training institutions and hospitals which are incessantly taking efforts to de-risk the impact of training on live patients; standardize their teaching practices and increase the time available for their trainees to practice various medical procedural skills. With the projected growth in the aging population in the U.S. and Canada, rising waiting time for healthcare services, growing pressure to curtail healthcare costs, decreasing subsidies and state funds, healthcare is certainly an attractive field for scientific exploration using simulation.

The growing pressure to curtail rising healthcare costs and create efficiencies in the healthcare delivery in the U.S. and Canada, exponential growth in the complexity of medical devices and procedures due to technological revolution, increasing adoption of advanced medical simulators and task trainers in the academic sector due to reduced access to real patients in this sector, and growing need of patient safety have all heralded the promise of simulation as a keystone of health profession education and patient safety.

The research report on the North American Medical Simulation Market provides comprehensive analysis of the market with a country level analysis and helps in understanding the driving forces for the growth of this market. The report also provides analysis of major product and service segments such as patient simulators, task trainers, procedural skills trainers, web-based simulation, audiovisual solutions, and simulation training services. The procedure skills trainers market is further sub-segmented into IV simulators, endovascular trainers, airway management products, arthroscopy trainers, laparoscopy trainers, dental trainers, and other procedural/surgical trainers. Similarly, the simulation training services market is categorized into educational services, hospital services, and other vendor-based services. The major end-users of the medical simulation products and services are analyzed by categorizing into healthcare education, hospitals, military, emergency medical services, and voluntary organizations. Market size estimates and forecasts for the period 2015 to 2020 has been provided for each segment and its sub-segment, in terms of USD million, calculating growth rates from 2015 to 2020, considering 2014 as the base year for calculations.

Meticulous Research® is founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

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